Trusted Answers From Licensed Business Professionals
Financial Areas to Review with your Spouse
By The BIDaWIZ Team on April 7th, 2010 at 8:00 am
Evaluating your finances with your spouse really needs to happen every 3 months if not more frequently. Many couples wait until March or April when the have to file their taxes which at that point is usually too late since the expenses are already paid and the income is already earned. In case you're wondering what to review, we have provided a list of 5 focus areas to discuss with your spouse. .
So many couples in the beginning of their marriage fail to have a financial discussion which is so critical to financial planning AND taxes. They struggle with adopting the term “our taxes” and instead use “my taxes,” because of ego or the sensitive nature of finances. But, it is critical for each spouse to know the others income, expenses, investments, benefits, & of course financial goals. All of these elements are important to determine the best way to file taxes and how to monitor your tax liability throughout the year. Read More.
Do I Issue a 1099 or W2 to My Employees?
By The BIDaWIZ Team on March 31st, 2010 at 8:00 am
The 1099 vs. W2 topic can definitely be confusing to employers and thus leads to many tough tax questions. The most important thing as we point out later in this article is understanding whether or not the individuals being compensated for their work are considered by the IRS to be employees or independent contractors. .
File a Tax Extension rather than Amend a Return
By The BIDaWIZ Team on March 17th, 2010 at 9:00 am
It may seem strange why some taxpayers file tax extensions even though the IRS still requires them to pay their tax liability on April 15th. You would think that if you have to pay taxes on April 15th anyway, then why not file your tax return now as well? You may be surprised in what you read below but filing a tax extension can actually make a lot of sense. .
Are Credit Card Interest Payments Deductible?
By The BIDaWIZ Team on March 9th, 2010 at 9:30 am
The answer is NO if the credit card was for PERSONAL USE but the answer is YES if the credit card was for BUSINESS USE. Below we have detailed the three different scenarios that you likely fall under if you have made credit card interest payments. Read More.
Growing a Business During a Recession
By The BIDaWIZ Team on March 9th, 2010 at 8:00 am
Going forward, set a collection policy that you know will work in both a bull and bear market. Specifically, it would be wise to run a scenario analysis with the elements of working capital to see what terms work under various financial conditions. Read More.
Living on a Boat Tax Questions
By The BIDaWIZ Team on February 22nd, 2010 at 8:00 am
Ah, the prospects of living on a boat traveling from port to port makes us all smile. While sailing into the sunset is a beautiful thing, unfortunately it does come with some tax questions. Read More.
A Large Tax Refund Isn’t That Great
By The BIDaWIZ Team on February 19th, 2010 at 8:00 am
We have experienced a high volume of tax refund questions so we are going to address this topic. But, for those who haven’t filed their tax return yet or received a tax refund, don’t worry, it is still early. Read More.
Setting Salary in a Husband & Wife Business Plan
By The BIDaWIZ Team on February 19th, 2010 at 8:00 am
Growing A Business By Seeking a Partner Or Getting a Loan
By The BIDaWIZ Team on February 11th, 2010 at 8:00 am
Quick Reference
|
Topic
|
|
|
Error: Twitter did not respond. Please wait a few minutes and refresh this page. |
 |